How much student debt does the average borrower owe?

AUSTIN (KXAN) — President Joe Biden announced plans Wednesday to cancel some student debt for millions of Americans.Borrowers who earn less than $125,000 a year will be eligible for $10,000 in loan forgiveness under the president's plan.Those who receive Pell Grants, which are reserved for those with the most significant financial feed, are eligible for $20,000 in loan forgiveness. Big student loan forgiveness plan announced by BidenThe amount owed varies significantly across the country.